SynerFuse
- Industry
- Medical Devices
- Founded Year
- 2015
- Headquarters
- 6321 Bury Drive, Suite 10, Eden Prairie, MN 55346
- Employee Count
- 11
Key People
-
Justin Zenanko - Co-Founder, Chief Executive Officer, President & Chairman
Email: justin@synerfuse.com
- Gregory F. Molnar, Ph.D. - Co-Founder, Chief Scientific Officer, Vice President & Vice Chairman
- Nazmi Peyman, M.D. - Co-Founder, Chief Medical Officer & Board Member
- Rohan Lall, M.D. - Chief Medical Officer
- Michael Park, M.D., Ph.D. - Chief Technology Officer
Assessment
- Team
-
Aspect: Multiple successful MedTech entrepreneurs
Summary: The leadership team comprises experienced professionals with backgrounds in medical technology and neurosurgery.
The leadership includes individuals like Justin Zenanko, who has a background in medical device companies, and Dr. Rohan Lall, a neurosurgeon with expertise in spinal procedures. Their combined experience in MedTech and clinical practice enhances the company's capability to develop and commercialize innovative solutions.
- Clinical Need
-
Aspect: Very Strong
Summary: The e-TLIF procedure addresses a significant unmet need in managing chronic low back and leg pain post-spinal fusion.
With over 500,000 spinal fusion procedures annually in the U.S. and a high incidence of chronic pain post-surgery, the e-TLIF procedure offers a novel solution by integrating spinal fusion with direct nerve stimulation, potentially reducing the reliance on opioids for pain management.
- Competition
-
Aspect: First mover
Summary: SynerFuse appears to be pioneering the integration of spinal fusion with neuromodulation.
The company's unique approach of combining spinal fusion with direct nerve stimulation positions it ahead of competitors, potentially allowing it to capture significant market share before others enter this niche.
- Technical Challenge
-
Aspect: Moderate
Summary: The integration of two established technologies presents moderate technical challenges.
Combining spinal fusion devices with neuromodulation systems involves ensuring compatibility and safety, which, while achievable, requires meticulous design and testing to meet regulatory standards.
- Patent
-
Aspect: Very Strong
Summary: SynerFuse holds a robust intellectual property portfolio with numerous patents granted and pending.
With 25 granted and 20 pending patents, SynerFuse has secured comprehensive protection for its technologies, enhancing its market position and attractiveness to investors.
- Financing
-
Aspect: Medium
Summary: The company has secured funding but may require additional capital for further development and trials.
While SynerFuse has raised funds through various rounds, including a $2.64M seed round in 2019, the cancellation of a $25M later-stage VC round in 2023 indicates potential challenges in securing large-scale funding, which is crucial for advancing clinical trials and market entry.
- Regulatory
-
Aspect: Pivotal Trial
Summary: The company is preparing for pivotal trials following the completion of proof-of-concept studies.
Having completed a proof-of-concept study, SynerFuse is now focusing on designing and building its NeuroFuse System in preparation for pivotal trials, a critical step toward obtaining regulatory approval and subsequent commercialization.
Opportunity Rollup
- Odds of Success
- 4.2
- Peak Market Share
- 5.85
- Segment CAGR
- 3.0%
- Market Segment
- Orthopedic Devices
- Market Sub Segment
- Spinal Fusion Devices
| Year Post Launch | Market Penetration (%) |
|---|---|
| 1 | 0.29 |
| 2 | 0.88 |
| 3 | 2.05 |
| 4 | 4.10 |
| 5 | 5.85 |
Key Takeaway
SynerFuse's innovative e-TLIF procedure addresses a significant clinical need with a strong team and patent portfolio, but faces challenges in financing and regulatory approval to achieve market success.